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Energizer Resources Inc (TSX:EGZ,OTCQX:ENZR,FWB:YE5) provided summary of milestones achieved over the past 18 months and commented on the current status on its flagship Molo Graphite Project in Madagascar. Highlights included the closing of a C$7,344,488 private placement in January, the securing of 100 percent interest in the Molo Graphite Project and the commencement of a feasibility study at Molo in January. Energizer has a large scale pilot plant at Molo, and is now targeting the completion of further partnership and financing agreements with plans to complete its full feasibility study by the fourth quarter of 2014.
As quoted in the press release:
On January 31, 2014, Energizer announced the robust results from the completion of a large scale pilot plant operation. Over 13 tonnes of Molo graphite concentrate was produced and results confirmed that a significant portion (43.5%) of the flake size distribution is classified as “large” and “jumbo-flake”, 78.3% of Molo flake meets the minimum required size to produce battery-grade graphite and up to 97.7% purity can be achieved. through simple flotation alone. These pilot plant results were superior to those released in the Company’s positive PEA study.
Energizer CEO, Richard Schler, said:
We look forward to building on the substantial progress we have achieved over the past months in advancing our Molo Graphite Project, which included the completion of an operational pilot plant run as part of our Molo Feasibility Study. I believe this will be an exciting year for Energizer as we work towards achieving the important milestones of securing both mine financing and off-take agreements. Although we have been very active over the past few months pursuing these initiatives, they are tasks that do not easily lend themselves to providing regular news flow. With the recent positive developments in the global flake graphite market centering around lithium-ion batteries for electrical vehicles and large scale energy storage, I believe that conditions are ideal to support the rapid advancement of the Molo Graphite Project.
Click here to read the Energizer Resources Inc. (TSX:EGZ,OTCBB:ENZR,FWB:YE5) press release
Click here to see the Energizer Resources Inc. (TSX:EGZ,OTCBB:ENZR,FWB:YE5) profile.